Friday, June 19, 2009

Credit Score Improve

Improve your Credit Rating

Hi Friends,

Most of our known readers were asking us “why have you not discussed about in favor of receiving Credit Cards and what steps should be taken to be a regular Credit Card holder as now a days it is quite impossible to live without any lone ?” So as per their request we are going to Post this before you. This may be helpful to all of you.

For this you must know about Credit Rating, which assesses the credit worthiness of an individual and it is calculated on the basis of financial history, current assets and liabilities. Do you know why is this needed to both borrower and lender?

This is needed as this tells a lender or investor the probability of individual’s ability to pay back loan dues. A poor rating person can’t get loan as it is high risk to the lender/investor for collecting loan repayment from him but in case of high rating it is totally different.

Now we are going to discuss the details about this.

The credit rating is done by some credit bureaus/agencies all over the world and they compile and maintain the credit history of an individual. It comes through a statistical analysis of the available credit data, which results in a three digit credit score (100 to 999) or “R” (R1 to R9) ratings. Experian, Equifax, Trans Union and Innovis, Call credit and Northern Credit bureau are the examples of some credit bureaus/agencies.

All the countries do not allow open access to the credit report and credit scores. Americans are entitled to one free credit report from within a month from the agencies of their country and they can get it from In some states such as California and Colorado, a consumer is entitled to a free credit report within 30 days of being denied credit or receiving sub-normal credit terms from a lender.

When your credit score is low you are rejected by the lenders and when your credit score is very high you may be requested to submit additional documents to prove your credit worthiness. Now finally what is badly needed to say that what things can improve your credit score. They are as follows:-

>>>Pay minimum amount due before date

>>> Make full payments on credit cards every time

>>> When your credit score is low pay the entire loan first and don’t take any loan until score improves.


Urproblemmysolution team

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